What’s happening with the Eagle Mountain (ASX:EM2) share price today?

The Eagle Mountain Mining Ltd (ASX: EM2) share price is dipping today after the company posted its Investor Presentation Sydney Resources Round-Up.

| More on:
Man in hard hat rolling his eyes at a falling ASX share price. builder

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Eagle Mountain Mining Ltd (ASX: EM2) share price is dipping today after the company posted an investor presentation. At the time of writing, Eagle Mountain shares are down 3.86% to $1.12 per share.

Eagle Mountain is engaged in the exploration and evaluation of copper, gold, silver, and porphyry copper deposits. Its project portfolios include Silver Mountain and Oracle Ridge across Australia and the United States.

Presentation highlights

The Eagle Mountain share price is failing to respond despite the company honing in on two of its most recent updates. It has moved to 100% ownership of its Oracle Ridge mine after strong recent results in the region sent the Eagle Mountain share price rocketing 12%. The company also revealed its plans to increase its mining operation drilling rates three-fold over the coming quarter.

Eagle Mountain is currently working along four kilometres of mapped and sampled mineralisation in its Leatherwood contact, as part of the Oracle Ridge mine. The company was also bullish about its prospects for the next quarter, saying it has “good credentials to potentially be a low emission mining operation”.

It has an existing underground mine with 18 kilometres of development and extensive local infrastructure within a tier-one mining jurisdiction of Arizona in the US. The release noted that Arizona was recently named the second-most lucrative mining region in the world in investment attractiveness.

The company also reported strong drilling results since September 2020. It’s raised $11 million since February 2021 to fund its drilling operations during 2021, with the company expecting to leverage record high copper prices over the coming months. The copper price is now more than double what it was in January 2020.

Eagle Mountain share price snapshot

Including today, the Eagle Mountain share price has now been tumbling for three days. These losses have, however, been partially mitigated by the company’s huge gains recently. It’s still up almost 11% over the past week and around 65% over the past month.

Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Resources Shares

a sad looking engineer or miner wearing a high visibility jacket and a hard hat stands alone with his head bowed and hand to his forehead as he speaks on a mobile telephone out front of what appears to be an on site work shed.
Resources Shares

Should investors dig the BHP share price in July?

BHP shares are sinking. Is it time to jump on the ASX mining giant?

Read more »

oil and gas worker in hard hard in front of oil and gas equipment
Resources Shares

How did the Santos share price perform in FY22?

The energy giant rode the waves of an active year on commodity markets.

Read more »

An older man wearing glasses and a pink shirt sits back on his lounge with his hands behind his head and blowing air out of his cheeks.
Resources Shares

ASX lithium stocks avoid share price shock amid commodities lashing

Core Lithium and Allkem are outperforming their major ASX resources peers today.

Read more »

two men in hard hats and high visibility jackets look together at a laptop screen that one of the men in holding at a mine site.
Resources Shares

Why is the Fortescue share price slipping 5% today?

What's impacting the miner's shares on Wednesday?

Read more »

A man wearing a shirt, tie and hard hat sits in an office and marks dates in his diary.
Resources Shares

Why did the Rio Tinto share price hit the brakes in FY22?

Rio Tinto shares recorded one of its most volatile years on record.

Read more »

Three miners wearing hard hats and high vis vests take a break on site at a mine as the Fortescue share price drops in FY22
Resources Shares

Broker names 2 ASX mining shares to buy in FY23

These ASX mining shares have been named as buys for FY 2023...

Read more »

a female miner looks straight ahead at the camera wearing a hard hat, protective goggles and a high visibility vest standing in from of a mine site and looking seriously with direct eye contact.
Resources Shares

How did the South32 share price perform in FY22?

Off to a new financial year for the diversified miner.

Read more »

a man in a hard hat, high visibility vest and gloves holds a stop sign and holds up a hand in a halt gesture on a road.
Share Market News

What’s happening with Firefinch shares following a $13 million lithium sale?

Firefinch shares are going nowhere today.

Read more »